Cramer's 'Mad Money' Recap: Tech Has Come a Long Way (Final)

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NEW YORK (TheStreet) -- "Don't be too skeptical of big trends that can make you money," Jim Cramer told the viewers of his "Mad Money" TV show Thursday.

On the 10-year anniversary of the Nasdaq's all-time high, Cramer said there are stark differences between the tech rally back then, and the tech rally of today.

Cramer said sometimes it seems like this market just won't quit, with even the most speculative of tech stocks heading higher and higher day after day. But unlike the dot-com tech bubble of 2000, Cramer said today's tech rally is not about mindless speculation, but rather speculation done right.

He said today's speculative companies aren't being judged on eyeballs or page views, but instead on actual earnings.

What's driving the current tech rally? Cramer identified three themes powering tech stocks higher. The first is the need for a faster Internet that's capable of carrying more services, including video, to more and more consumers. He said this theme is driving stocks like F5 Networks (FFIV), JDS Uniphase (JDSU) and Akamai (AKAM), to triple-digit gains for the year.

The second theme is cloud computing, said Cramer, which involves the sharing and storing of applications online, rather than on desktop hard drives. Cramer said this theme is driving stocks like IBM (IBM), VMware (VMW) and Oracle (ORCL).

Finally, there's Cramer's much hyped "mobile Internet tsunami," which is all about the proliferation of smart phones and mobile devices. This theme is represented by Apple (AAPL), a stock which Cramer owns for his charitable trust, Action Alerts PLUS, along with Research in Motion (RIMM) and all of their component makers.

Cramer said unlike the dot-com bubble, new tech stocks are not coming to market every day, which only makes the existing ones, those with real earnings and solid growth prospects, even more valuable.

In the short term however, Cramer said these stocks may have gotten ahead of themselves, and it's prudent to take some profits and protect what gains investors may have. But over the longer term, Cramer said this tech rally is more than justified.